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SES Astra Takes Control of ND SatCom |
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BETZDORF, Luxembourg, May 24, 2006, 2006/Satnews Daily/ — SES Astra, an SES Global company (Paris:SESG) (LuxX:SESG), has raised its stake in the satellite communications supplier ND SatCom from 25.1 to 100 percent by acquiring the 74.9 percent share from the German-based high-tech group Augusta Technologie AG.
SES Astra said it acquired the majority stake for a consideration of $45.52 million (EUR 35.6 million). The transaction is subject to the necessary regulatory approvals. SES Astra added the purchase agreement also foresees a contingent additional payment dependent on the award and value of a significant government contract opportunity. But this additional consideration cannot exceed approximately 36 percent of the purchase price of $45.52 million (EUR 35.6 million).
ND SatCom is a global supplier of satellite-based broadband network solutions for government customers, broadcasters and enterprises. It is based in Friedrichshafen, Germany, employs 240 people globally, has major regional centers in Abu Dhabi, Beijing and Dallas, Texas, and conducts business in over 130 countries. In 2005, it generated revenues of $102.3 million (EUR 80 million) of which approximately 70 percent derived from the government sector.
“Enhancing the government services offering is a key strategic objective of SES,” said Ferdinand Kayser, president and CEO of SES Astra. “The acquisition of ND SatCom allows SES Astra to enter the fast growing government sector.”
Kayser added that through the transaction, SES Astra will provide a combined ground and space offering to the government sector and take advantage of the growth potential for our core infrastructure business, in particular the recently acquired New Skies assets.
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